Have you ever been told that if you work hard you will succeed? I was. I believed it. For years whenever I had an issue I just started to work more. Work more hours! Push! Push!
I kept moving.
I would do great for a while and then I would burn out. Sometimes I would kill it and prosper, but to be honest most of the time I seemed to go nowhere.
It was frustrating. However, I just kept doing it. I would also get very focused on the work. I was told if I just work smarter. all my problems would go away. I just needed to focus on the type of work I was doing. However, that failed to make my life better, or my business larger.
I also went through a period, where I cut out all the work that I didn't like, that was the worse mistake. I lost touch with so much that was important to my business because I did not want to do work I did not like. I would store up all that crappy work until I was forced to do it. I managed to 10x the work I hated. This is a 10x you never want, please trust me.
It all started with a great piece of advice from Brendon Burchard. I figured out what I needed to look like to live the life I love.
It freed me from a trap I was in. I was trapped spending so much time, trying to find new hacks, apps, and techniques to improve my time management. I missed the root problem. I needed to get over myself.
The first part of troubleshooting is finding the problem. If you get stuck in a GTD hell. You need to identify, what you are screwing up. From my work with clients and myself, it appears most people's task management issues is because of one of these mistakes:
Kristin and I look at these mistakes and go into much more detail about how we should look at our task management. If you have not, I would also check out episode 104 – How to get it all done. Also read "Getting Things Done: The Art of Stress-Free Productivity" by David Allen.
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episode 104 – How to get it all done https://www.smallbizlife.com/blog/episode-104-how-to-get-it-all-done
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Getting Things Done: The Art of Stress-Free Productivity by David Allen http://amzn.to/2wNmfTi
Yes, it is best to be concerned about your data. Between all of our smart devices and services that connect our data over the web. It seems like it is only a matter of time before we have our identity stolen.
However, panic is never a plan. We need to understand how the latest breach effects us and what we need to do to protect ourselves better.
Equifax is one of the three credit reporting agencies in the United States. This breach exposes the name, address, birthday, and Social Security number of 143 million people. 209 thousand people had their credit card information lost. And 182 thousand lost documents by Equifax according to www.equifaxsecurity2017.com. The first thing you need to do is go to www.equifaxsecurity2017.com and see if you or your children have been affected.
Chances are you or someone in your family have been exposed. Here are the quick steps you need to do if you are part of the 143 million.
Since 2016 there have been 25 major data breaches with at least 900 Million records lost. And out of those numbers, there have been many companies who do not know or did not state how many records have been lost. There could have also been other breaches that have not been publicly released.
In these days of an interconnected world, you should consider the best ways to protect yourself and assume that at some point you or a family member will have their identity stolen. Please consider a service like Identity Shield as a way to protect yourself.
Get An Identity Protection PIN (IP PIN)
https://www.irs.gov/individuals/understanding-your-cp01a-notice
The Equifax Data Breach: What to Do
When Information Is Lost or Exposed
Best Identity-Theft Protection 2017
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https://www.identitytheft.gov/Info-Lost-or-Stolen
https://www.tomsguide.com/us/best-identity-theft-protection,review-2083.html
https://nordvpn.com/free-trial/
https://en.wikipedia.org/wiki/List_of_data_breaches
https://www.equifax.com/personal/?/
https://www.creditkarma.com/auth/logon/
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We all have so much to get done. Our small businesses can turn us into workaholics. Our family and friends are always trying to distract us. And all those hobbies take time. So can we really get it all done?
Think of how much life has changed for humans since the dawn of recorded history. We have created air conditioning, air planes, escalators, teddy bears, the Theory of Relativity and all those major changes happened in the first 5 years of the 20th century.
As a species, we are driven to make our life, and the life of our family members better. It has taken humans from small tribes of hunter gatherers to data scientist in ~5,500 years. So stop worrying about getting it all done, until we reach a utopian state we will always come up with new tasks to do next.
Your time is better spent trying to learn how to figure out what to do and how to do what you are doing better to get to your next goals. And understanding our nature will force us to pick new goals and create new tasks along the way.
So join Kristin and Jeff in this episode as we look how we work to get the most done every day so we can maintain our momentum allowing us to focus on what is important to us and enjoy our this crazy thing that we call life.
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https://www.smallbizlife.com/blog/episode-62-improving-your-focus Episode 62 - Improving your focus
https://www.smallbizlife.com/blog/episode-16-the-why-and-how-of-goal-setting Episode 16 - The why and how of goal setting
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As a CPA, Kristin is asked many questions about how small business owners should deal with money and tax issues for small businesses. There is one question that she is asked to most.
Well, as with most questions involving the government and taxes it is never quite that simple.
The common options:
There are many reasons to pick any of these selections. However, the first thing you need to understand is an LLC is considered a disregarded entity for tax purposes. That means that if you have one owner, your business will be treated as a sole proprietorship by default. Have two or more owners? Your LLC will be a partnership by default. You can elect that your LLC be treated as an S Corp as well. If you ever decide to move your sole proprietorship or partnership to an S Corp you will save yourself paperwork if you become an LLC.
The time you should really consider paying a bit more to set up your S Corp is when your compensation equals the reasonable salary to replace you in the business, including an additional amount for your management function. The best place to learn your reasonable salary is Salary.com.
You will need a payroll service like Gusto, plus pay for unemployment taxes and additional tax filings. Email Kristin@SmallBizLife.com to get set up in Gusto today.
There are more considerations in the process. Check out the episode to get all the financial impacts for free. It is also a good idea to discuss the legal implications with an attorney. We are not lawyers and do not offer legal advice in this episode.
If you would like to set up a call or a video call to get Kristin's help with your situation create an appointment with Kristin today.
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